10 Aug Bank Nifty Analysis

By | August 9, 2020 8:30 am
  • As discussed in last analysis 21870 done and we formed a perfect Doj on Astro date suggesting break of high and low of 07 Aug will give 600 points move in bank nifty.Bank NIfty Bulls need to move above 21650 for a move towards 21871/22000. Bears will get active below 21500 for a move back to 21350/21100. Bank Nifty formed an Inside Bar and NR7 together combined with 09 Aug Astro date suggesting big move will be seen in next 2 days. Bank Nifty Bulls need to move above 21800 for a move towards 22000/22000/22500. Bears will get active below 21610 for a move back to 21500/21350/21200.

  • Bank Nifty Aug Future Open Interest Volume is at 13.6 lakh with addition of 0.60 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @22013 closed below it.
  • 22000 CE is having highest OI @8 Lakh resistance at 22000 followed 22300.21000-23000 CE added 10.4 Lakh in OI so bears added position in the zone of 22000-22500.
  • 20000 PE is having highest OI @16 Lakh, strong support at 20000 followed by 19800.20000-22000 PE added 11.9 Lakh OI so bulls making support in the range of 20000-20300.

Buy Above 21800 Tgt 21877,22000 and 22200 (Bank Nifty Spot Levels)

Sell Below 21700 Tgt 21619,21541 and 21328 (Bank Nifty Spot Levels)

Category: Bank Nifty Astrology

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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